Economic effects of Global Warming

Its the heating up of the earths surface, caused by an increase in green house gases.

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Give an advantage of how the UK benefits from global warming

The UK benefits becasue by the rising temperatures it can increase growth in the tourism industry, so there will be more spending and a rise in aggregate demand, therefore a rise in economic growth.

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Give an advantage of which economic goals are achieved?

Climate change can create employment in the health sector, along with builders to repair the damage from storms and flooding. This can ultimetly encourage spendinhg and reduce unemployment.

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Give a disadvantage for farmlands

A loss in farmland causes threats to GFP due to the loss of yields. this causes the productivity of crops and livestock to fall as rising temperatures. therefore if farmers crop yields are declining & their incomes fall & LEDC suffer malnourishment

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How can productivity be affected?

there are disruptions to daily lives related to CC, e.g. loss in work/agriculture this causes a fall in productivity. so if a country is producing less then there is a fall in goods to be traded so economic growth falls.

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describe the effect of Tropical storms

They will be more frequent and severe as temperatures will more likely be reaching 27'C due to a rise in global temperatures. this causes disruptions and enviably costs the gov millions to recover and repair the damage.

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describe the effects of a tropical storm 2

this causes disruptions and enviably costs the government millions to recover and repair the impacted damage.

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describe the effects 3

this expenditure creates an opportunity cost as there is less money spent on other areas such as the NHS therefore taxes (fiscal policy) may rise to cover the cost. this causes a reduction in DI and reduces AD causing a fall in economic growth.

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what is the overall conslusion?

There are limited economical benefits of GW. The ORF is that there is a decline in productivity of an economy. so the UK may produce less due to environmental factors which causes less goods to be traded and the value of exports falls creating a BOPD